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GERSHMAN MORTGAGE FINANCES $3.6 MILLION PROJECT
ST. LOUIS, March 23, 2004- Gershman Mortgage provided $3.6 million to refinance an Atlanta apartment complex in February. For 50 years, Gershman has provided financing for residential real estate in the St. Louis region, and for commercial multi-family projects nationwide.
Gershman refinanced Centennial Place Phase II, a 177-unit apartment complex in Atlanta. Gershman provided a $3,630,800.00 loan financed with GNMA mortgage backed securities and insured by FHA under Section 223 (a) (7) of the National Housing Act.
Gershman is the oldest independent mortgage company in St. Louis, and one of the largest in Missouri. Gershman is an area leader in FHA/VA and conventional single-family home loans, having financed over 50,000 loans in the St. Louis area alone. Nationally, Gershman services over $600 million in loans for multi-family and healthcare facilities. Gershman provides all types of financing for apartments, nursing homes, assisted living facilities, and hospitals. Gershman Mortgage is one of only 66 lenders in the country approved for MAP (Multi-family Accelerated Processing) for apartments, assisted living and nursing homes.
Gershman Mortgage recently launched a new website, www.gershman.com. The site’s commercial side outlines the products and programs available to commercial borrowers. It provides links to important resources and includes a list of documents necessary for reviewing loan requests. In addition, the site highlights projects and facilities financed by Gershman Mortgage.
Gershman Mortgage has offices in Clayton, St. Peters, and Fairview Heights, IL and can be found on the web at www.gershman.com. Gershman’s Clayton office is located at 7 North Bemiston. The main phone number is (314) 889-0600 or 1-800-GERSHMAN.
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